Hess Midstream LP (NYSE:HESM) Short Interest Update

Hess Midstream LP (NYSE:HESM) was the target of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 4,320,000 shares, a decrease of 35.5% from the February 13th total of 6,700,000 shares. Based on an average daily trading volume, of 1,160,000 shares, the short-interest ratio is currently 3.7 days. Approximately 2.0% of the company’s shares are sold short.

Hess Midstream Stock Up 3.5 %

NYSE:HESM traded up $1.42 on Friday, reaching $42.10. The stock had a trading volume of 1,225,339 shares, compared to its average volume of 914,109. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 7.85. The company has a 50-day moving average of $40.36 and a 200 day moving average of $37.58. The stock has a market cap of $9.18 billion, a P/E ratio of 16.91 and a beta of 1.48. Hess Midstream has a 12-month low of $32.75 and a 12-month high of $42.31.

Hess Midstream (NYSE:HESM) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. On average, research analysts predict that Hess Midstream will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, February 6th were given a dividend of $0.7012 per share. This is a boost from Hess Midstream’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $2.80 annualized dividend and a dividend yield of 6.66%. Hess Midstream’s dividend payout ratio (DPR) is presently 112.45%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on HESM shares. Raymond James increased their price target on Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Citigroup increased their price target on Hess Midstream from $41.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company increased their price target on Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Insider Transactions at Hess Midstream

In related news, major shareholder Blackrock Portfolio Management sold 11,000,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $39.11, for a total value of $430,210,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On Hess Midstream

Large investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC lifted its position in shares of Hess Midstream by 77.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,329 shares of the company’s stock worth $49,000 after purchasing an additional 579 shares during the last quarter. US Bancorp DE lifted its holdings in Hess Midstream by 34.0% in the fourth quarter. US Bancorp DE now owns 2,010 shares of the company’s stock worth $74,000 after acquiring an additional 510 shares during the last quarter. KBC Group NV lifted its holdings in Hess Midstream by 83.9% in the third quarter. KBC Group NV now owns 2,803 shares of the company’s stock worth $99,000 after acquiring an additional 1,279 shares during the last quarter. Millburn Ridgefield Corp bought a new position in Hess Midstream in the third quarter worth about $100,000. Finally, IFP Advisors Inc lifted its holdings in Hess Midstream by 33.3% in the fourth quarter. IFP Advisors Inc now owns 2,934 shares of the company’s stock worth $109,000 after acquiring an additional 733 shares during the last quarter. Institutional investors own 98.97% of the company’s stock.

Hess Midstream Company Profile

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.